Nigeria’s annual inflation rate eased for the second straight month to 17.93% in May of 2021 from 18.12% in April, amid a slight slowdown in prices of food & non-alcoholic beverages & tobacco (22.28% vs 22.72% in April) and despite a recent currency devaluation. Still, the annual core inflation, which excludes the prices of volatile agricultural produce hit 13.15% in May, the highest since April of 2017. On a monthly basis, consumer prices inched up 1.01%, following a 0.97% increase in the prior month.
NGXASI Dips Further, Despite MPC Leaving Rates Uchanged
Stretching further south, equities trading on the floor of the Nigerian Stock Exchange ended in the negative territory, as the
May 25, 2021
